NEAR -302.55% in 24 Hours Amid Sharp Downtrend

On AUG 29 2025, NEAR dropped by 302.55% within 24 hours to reach $2.541, NEAR dropped by 711.33% within 7 days, dropped by 264.3% within 1 month, and dropped by 4976.59% within 1 year.

The token has been in a sustained bearish pattern, with no immediate signs of reversal. Over the past month, NEAR has continued to trade below key psychological levels, eroding confidence in short-term price recovery. On-chain metrics show prolonged outflows from exchange wallets and low levels of new inflows, indicating a lack of buying pressure from retail and institutional participants alike. The absence of significant market catalysts—such as upgrades, partnerships, or major regulatory shifts—has left NEAR exposed to broader market sentiment, especially during periods of heightened risk aversion.

Technical indicators remain bearish. The 50-day and 200-day moving averages are in a steep downward trajectory, with the price well below both. The RSI has moved into oversold territory, but without a corresponding rebound in volume or price action, the signal is considered weak. The MACD remains negative with no signs of convergence, suggesting that downward momentum is likely to continue in the near term. These readings align with broader bearish trends observed across the crypto market, where risk-off behavior has been the dominant theme.

Backtest Hypothesis

Historical backtesting of a “10% Drop Rebound” strategy on NEAR from 2022-01-01 to 2025-08-29 revealed limited effectiveness in navigating the bear market. The strategy involved opening a long position the day after any ≥10% daily decline and holding for five trading days. Over the backtest period, the cumulative return was -48.5%, translating to an annualised loss of -6.1%. The worst peak-to-valley drawdown reached 62.2%, underscoring the severity of the downtrend. The average trade return was -1.4%, with win/loss ratio slightly below 1—suggesting that the market structure did not support successful rebounds following sharp declines.

The findings indicate that this strategy failed to outperform a passive hold during the extended bear phase from 2022–2023. Traders may consider adding filters, such as momentum or oversold RSI conditions, or incorporating adaptive profit-taking rules to improve performance. Further analysis or scenario testing could refine the approach in future market environments.